The US cardholders spend an average of 15 hours to resolve new account fraud
Visa has announced an Advanced Identity Score to help US financial institutions with combatting account fraud.
It combines Visa’s AI and predictive machine learning capabilities with application and identity-related data. They generate a risk score for new account apps to help lower fraud and eliminate operational costs due to remediation.
Besides, Advanced Identity Score can reduce the number of new accounts opened with stolen identities and protect clients against synthetic ID or account takeover fraud.
We’ve reported that Duke University researchers have developed an AI tool that can turn blurry photos of people’s faces into computer-generated portraits.